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| 1 Electronics Drive, Hamilton, NJ |
MORRISTOWN, NJ – JLL Capital Markets announced the sale, joint venture acquisition equity and debt placement for 1 Electronics Drive, a 16-acre flex/industrial property located in Hamilton, Mercer County, New Jersey. Financial details were not disclosed.
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| Jeremy Neuer |
Acting on behalf of the seller BTR Capital Group, JLL Capital Markets facilitated the sale to Saxum Real Estate Partners. Additionally, working on behalf of the new owner, JLL secured joint venture equity from Meadow Partners along with acquisition financing from Prime Finance.
Powered by the collaborative nature of the platform, JLL’s Tom Romano, Managing Director, initiated the relationship as the leasing agent for BTR Capital Group and assembled a best-in-class real estate investment advisory team including Senior Managing Directors Jeremy Neuer, Marc Duval and Jose Cruz, Managing Director Jordan Avanzato, Directors Jason Lundy and Nick Stefans and Associate Conor Walsh to collaborate on the sale.
Duval
and Lundy also secured the joint venture equity on behalf of the buyer while
Senior Managing Director Michael Klein and Managing Director Tom
Didio, Jr., secured the debt.
Marc Duval
“JLL
is committed to putting the full power of the platform to use for our clients,”
commented Duval. “This was a joint effort across four teams in two different
offices who have embraced the change and growth within our industry.”
“Saxum
and Meadow Partner’s reputation and business plan for the asset drew
significant interest from lenders. We are happy to have secured acquisition
financing that best met the sponsorship’s needs,” added Klein.
The
low coverage property sits on 16-acre lot, featuring an existing
80,000-square-foot building, which is 72% leased, and 530 surface parking
spaces. The property’s location and layout provides flexibility for future
utilization.
“As
developable land becomes increasingly scarce in the highly sought-after Central
New Jersey industrial market, 1 Electronics Drive is perfectly positioned to
cater to the growing demand for prime locations with strong leasing
fundamentals,” said Lundy.
Jose Cruz
“Additionally, we’re looking forward to seeing the new
venture execute their business plan and capitalize on the region's high demand
for multi-tenanted, shallow bay industrial space.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.
The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries. For more news, videos and research resources, please visit JLL’s newsroom.
About Saxum Real Estate Partners
Jordan Avanzato
Saxum Real Estate is a national vertically-integrated real estate investment and development firm.
Saxum’s portfolio extends a variety of asset classes with
capitalizations surpassing $2 billion and includes over 2.5MM SF of ground-up
cold storage development, 1,400 multifamily rental units, 4,000 student housing
beds, and over 1MM of other assets.
Our
development pipeline totals well over $1 billion in capitalization across
multifamily, student housing, cold storage and industrial investments ranging
from value-add to ground-up development.
About Meadow Partners
Based in New York and London, Meadow Partners is a $6.2 billion vertically integrated real estate investment manager specializing in global middle-market transactions.
Since inception in 2009, Meadow has leveraged its unique platform
to execute on investment opportunities across multifamily, office, industrial
and retail investment on behalf of institutional investors globally. 
Jason Lundy
Meadow currently manages a series of commingled opportunistic funds, a perpetual life vehicle, and two core/core-plus separately managed accounts.
About Prime Finance
Prime Finance is a private commercial real estate (“CRE”) finance company formed in 2008 with discretionary capital to directly originate mortgage, mezzanine and preferred equity financing across the U.S. and acquire performing, sub-performing and distressed debt, as well as subordinate CMBS bonds.
Prime Finance has CRE origination capabilities that are supported by an origination platform with a national footprint and maintains its own origination and loan asset management/servicing teams, which allows it to control the assets and monitor credit quality.
Prime Finance has originated/acquired and serviced
approximately $23.5 billion of CRE loans since inception and as of March 31,
2024, has more than $8.7 billion of short duration assets and callable capital.
Nick Stefans
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties.
A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise.
Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM.
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| Conor Walsh |
CONTACT:
Grace Lewis
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